Abstract

The purpose of this paper is to show that the methods of determining monetary values of biodiversity depend on one's ethical point of departure. After a short summary of the ethical principles of anthropocentrism and biocentrism, the paper discusses the problem wether we shouldextend the market system and let the price mechanism encompass biological diversity, i.e. put prices on biodiversity. Basically, the anthropocentric approach leads to an ethics of freedom, where the individual has the right to decide what is good and to implement it. Then the individual's willingness to pay for biodiversity is a relevant criterion for its price. But the biocentric approach rather implies that an ethic of law is more important, valuing the real needs of Nature higher than the preferences of the individual consumers. Then the costs for protection or replacement are relevant, because they reflect what Nature needs.One further question concerns who is to decide the proces of biodiversity. If the willingness to pay is the criterion, then obviously the market should decide, using well-developed methods. If on the other hand the costs of protection or replacement are relevant, technical and economic experts have to calculat them—given the politically decided level of biodiversity to be restored.The basic question, whether the market and the price mechanism should be considered acceptable instruments to protect biodiversity, is not discussed in the paper. However, some environmentalists find the wish to maximize one's utility incompatible with environmental ethics. Also, the price mechanism may take various roles. Thus, prices may convey different information about the value of biodiversity, depending on which role we assign to them.